New Rainforest Projects Halted, Brazil’s Development Bank Says
- Norway, Germany froze donations to Amazon Fund amid wildfires
- President Bolsonaro critical of foreign intervention in region
Healthy vegetation sits alongside a field scorched by fire in the Amazon rainforest in Rondonia state, Brazil on Aug. 24.
Photographer: Leonardo Carrato/BloombergThis article is for subscribers only.
Brazil’s state development bank announced the suspension of new projects for an Amazon rainforest preservation fund until the government concludes negotiations with its donors, in another setback for conservation efforts in the Latin American country.
The 1.8 billion reais ($446 million) Amazon Fund, managed by the state bank known as BNDES, supports projects relating to the prevention, monitoring and fight against deforestation in the rainforest. Its future has been in doubt since Norway and Germany froze their contributions in August amid a surge in fires in the Amazon region.